Delaware § 1158 Public sale of property

Delaware Statutes

§ 1158 — Public sale of property

Delaware § 1158

JurisdictionDelaware

Title12

PartDescent and Distribution; Escheat

Ch. 11ESCHEATS

Subch.Unclaimed Property

This text of Delaware § 1158 (Public sale of property) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 12, § 1158 (2026).

Text

(a)All property, other than money, delivered to the State Escheator under this chapter shall be sold or disposed of in accordance with this section.

(b)All property, other than money, delivered to the State Escheator under this chapter may be sold or disposed of at public auction to the highest bidder or in such manner and at such times as the State Escheator determines to be in the best interest of the State. The State Escheator may dispose of securities by sale through a registered broker on a recognized securities exchange or over the counter market or, if there is no ready market for such security, by negotiation or public auction.

(c)The State Escheator shall hold the proceeds from a sale of property, other than money, delivered to the State Escheator, less all costs incurred in

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(a) All property, other than money, delivered to the State Escheator under this chapter shall be sold or disposed of in accordance with this section.

(b) All property, other than money, delivered to the State Escheator under this chapter may be sold or disposed of at public auction to the highest bidder or in such manner and at such times as the State Escheator determines to be in the best interest of the State. The State Escheator may dispose of securities by sale through a registered broker on a recognized securities exchange or over the counter market or, if there is no ready market for such security, by negotiation or public auction.

(c) The State Escheator shall hold the proceeds from a sale of property, other than money, delivered to the State Escheator, less all costs incurred in connection with the sale, in the place of the property and any claimant of the property is entitled only to the money so received, less lawful service charges.

(d) The State Escheator is not liable in any action for any act made in good faith under this section.

Legislative History

12 Del. C. 1953, § 1143; 50 Del. Laws, c. 507, § 1 ; 59 Del. Laws, c. 16, § 1 ; 67 Del. Laws, c. 245, § 1 ; 70 Del. Laws, c. 186, § 1 ; 81 Del. Laws, c. 1, § 2